Despite a drop in its 2024 sales, JOST Werke SE (JOST) is looking forward to a brighter 2025.
This outlook comes after the company confirmed its Annual Group Report for the 2024 financial year at a virtual earnings conference on 26 March 26 2025.
JOST was unable to escape the market slowdown in 2024, seeing group sales fall by 14.4 per cent to €1,069.4 million, compared to €1,250 million in 2023.
JOST CEO, Joachim Dürr, is upbeat about the company’s plans for 2025.
“2024 was an assertive and forward-looking year for JOST,” he said.
“We further developed our corporate strategy and started its successful implementation.
“With our ambitious global initiatives, we intend to accelerate our growth both organically and through strategic M&As.
“We took a major step at the beginning of 2025 with the acquisition of Hyva – the global market leader for tilt cylinders.
“Along with our successful push & pull sales model and our asset-light business model, the acquisition of Hyva strengthens our resilience on the market and product side. This gives us an important competitive advantage for our long-term success.
“I am very optimistic about 2025. We want our shareholders to participate in this success and are therefore proposing a dividend of €1.50 per share to the Annual General Meeting.”
Despite a dip in sales, there was good news for shareholders with JOST’s earnings after taxes rising marginally in 2024 to €53 million, while income tax fell to €10.3 million due to the sales-related decline in earnings.
JOST’s free cash flow increased to € +115 million, from € +112 million in 2023, while it was also able to keep the adjusted EBITDA margin stable year-on-year at 13.9 per cent, while the adjusted EBITDA fell by 14.4 per cent to €148.1 million, compared to €173.1 million in 2023.
In a challenging market environment, the consolidation of JOST Agriculture & Construction South America Ltda. (formerly: Crenlo do Brasil) and LH Lift contributed additional sales of €55.2 million in 2024, while it was able to decrease its net debt significantly by €53.2 million to €127.5 million as of 31 December 2024. This action built a strong starting position to successfully implement the purchase of Hyva, via debt and JOST’s own funds.
“The market environment in 2024 was challenging,” said JOST Chief Financial Officer, Oliver Gantzert.
“Nevertheless, I am very satisfied with JOST’s financial performance.
“We managed 2024 very well in operational terms and were able to largely offset the decline in sales through effective cost-cutting measures.
“I would like to warmly thank our teams across the world for their hard work. The excellent balance sheet at the end of 2024 and the strong free cash flow paved the way for us to quickly finalise the purchase of Hyva.
“In 2025, the focus in the financial area will be on reducing the increased debt burden resulting from the acquisition. We want to keep the leverage ratio below the 2.5x EBITDA mark by the end of 2025.”
Based on expected market needs, and supported by the February 2025 acquisition of the Hyva Group, JOST forecasts that current financial year consolidated sales, in the transport, agriculture and construction industries, will increase significantly by 50 per cent to 60 per cent compared to 2024’s figures of €1,069.4 million.
It also expects adjusted EBIT in 2025 to rise by 25 per cent to 30 per cent compared to the previous year (€113.0 million). Adjusted EBITDA is also projected to grow by 25 per cent to 30 per cent compared to 2024 (€148.1 million).
Other recent JOST news:
- JOST to showcase innovations at Transport Herning 2025
- Vale Danny Broomfield
- An acquired taste: JOST & Hyva
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